Measuring Financial Performance Using Ratio Analysis Method: An Application on the BIST Packaging Sector

The primary objective of this study is to compare the financial performance of packaging sector companies listed on Borsa Istanbul (BIST) with the sector averages. Ratio analysis was employed as the primary method for assessing the financial performance of the companies. Liquidity ratios, leverage ratios, activity ratios, and profitability ratios of the selected firms were compared with the corresponding sector averages. The data used in the analysis were obtained from the balance sheets and income statements available on the Public Disclosure Platform (KAP), focusing on the year-end financial statements of 2023. The findings reveal that OZRDN stands out by delivering exceptionally high returns despite its low-risk profile—an uncommon case in financial analysis. Ratio analysis results also indicate that EMNIS and BNTAS exhibited strong financial performance. While GEDZA showed positive results in terms of liquidity and profitability, the firm appears to face difficulties in utilizing its resources efficiently. The performances of BAKAB, DURDO, KAPLM, and BARMA fluctuated, at times exceeding and at times falling below the sector average. On the other hand, SEKUR, KRPLS, and MNDTR underperformed relative to the sector average, indicating structural weaknesses. It is therefore recommended that these companies implement structural reforms urgently in order to reduce risk and achieve sustainable growth.